Bing Fund taking shape to help Microsoft search for the next big thing in online services

Microsoft's Online Services Division (OSD) hasn't exactly had a lot of good news to share lately, most painful being the recent $6.2 billion write-down thanks to the aQuantive acquisition, so it's turning to a higher power for its next bet. The company appears to be creating an angel incubator called the Bing Fund, which would foster startups that could "bring a wave of innovation to OSD" -- which currently includes MSN, adCenter and, of course, Bing. While the company is being slightly coy about the details of Bing Fund, hosting only the tangerine teaser shown above at BingFund.com, some digging by ZDNet's Mary Jo Foley has revealed that Rahul Sood will be the chief cherub of this angel fund, stepping away from the Entertainment and Devices Division (aka the Xbox Division). Who better, we say, than the open-minded Voodoo PC founder who famously cut his chocolate birthday cake with a MacBook Air and later said: "Every executive in the PC industry should use an Apple notebook."